Scientific Games makes gains, narrows loss

Las Vegas-based Scientific Games’ four core business divisions gained ground in the company’s second quarter, shrinking losses after the company’s 11th straight quarter of year-over-year revenue and adjusted cash flow growth.

Scientific, which this week signed a partnership agreement with Caesars Entertainment Corp. to provide sports-wagering technology through its Openbet platform in New Jersey and Mississippi, saw improved results in its gaming, lottery, social and digital divisions.

But investors reacted negatively. Analysts had projected higher revenue and earnings, making it the fourth straight quarter the company missed expectations.

Scientific shares fell $6.25, 13.7 percent, to $39.55 a share on Thursday on volume more than five for our industry opening up one of the largest untapped gaming markets in the world,” Cottle said.

“Thanks to smart planning, investment and innovation and our acquisition of NYX (the company that developed Openbet), Scientific Games is perfectly positioned to provide current and future gaming and lottery customers with best-inclass services they want.”

Cottle said Openbet accommodated 177 million wagers during the World Cup in the United Kingdom.

For the quarter that ended June 30, Scientific reported a loss of

$5.8 million, 6 cents a share, on revenue of $844.7 million, compared with a loss of $39.1 million, 43 cents a share, on $766.3 million in revenue a year earlier.

Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @Rickvelotta on Twitter.